Replies to This Discussion

Permalink Reply by Jodie Luke on October 26, 2011 at 6:31am

Ive had this happen on my files as well... you need to email the negotiator  asset manager, and supervisor  through equator and ask them what is the reason it was rejected ?  Let them know it just says"other " with no explaination.

I have always gotten a response in 24 hours when I sent the request this way.. Good luck!

Permalink Reply by Shayna M. Bechtel on October 26, 2011 at 6:34am

That's BACI for you.  They reject the doc's for a wide range of reasons (can be the spelling of a name, SW left off an address, contract & HUD must match exactly, etc.).  The only way to deal with it is to get on the phone with a BOA CSR and ask them to read you the detailed notes that will hopefully give a better answer as to what the person in India of all places has found wrong with your doc's...

Permalink Reply by Ben Racela on October 26, 2011 at 6:45am

The typical reason is that on the purchase agreement the seller's name is not correct.  Some offers are written as "Seller's of record" and BofA will not accept that.  They want the legal name(s) that is on the mortage on the purchase agreement.  Also I have issues with the exact property address.  Verify that address with title against the purchase agreement.  These two items also hold true if the LOA is rejected.

 

Keep up the good work!! 

Permalink Reply by joe beauchamp on October 26, 2011 at 2:46pm

You guys are working too hard on this.  Call the SS reps - they will look at the record, look at the docs, etc. and do the legwork.  You contact the negotiator and most likely you are sending to someone overloaded and had nothing to do with the stupid "OTHER" designation.  BOA has gotten better at this - maybe they got tired of listening to me complain about how some idiot incapable of handling a McD's register got hired to work the night shift, has no contact info and cannot bother to say WHAT his problem is - just picks OTHER so that I can waste 20 minutes on the phone while the poor SS rep has to look all over the place to see if a comma was in the wrong place or the fool hit the "OTHER" key reaching for another beer.

I've had reps and supervisors looking over stuff and still got an answer a whole lot faster than messing around with sending emails for OTHER.  Just call in and ask - save the aggravation and let them do the legwork - and save a bunch of time.  (They think OTHER is a real waste of their time, too...)

Permalink Reply by John Parr on October 27, 2011 at 1:37am

Thanks Jodie, Shayna, Ben and Joe ....

In three years of doing short sales, I've somehow managed to dodge the BOA bullet, handling obscure and local lender shorts.  Good to be armed with your input, and I thank each of you for taking time from your day to respond.

Let's save a homeowner today ...

JPP